Lessons from the Greek Tragedy: Europe Needs Economic Governance

摘要

The financial crisis that has hit the global economy since the late summer of 2007 is the worst in post-war economic history. It affected the European Union, showing the need for real economic governance in Europe through the convergence of fiscal policies. Up to now, there is economic administration only in the monetary section. The economic union-the first and most important segment of EMU-remains inoperative.